The voting through postal ballot took place from November 16 to December 15.
The voting by minority shareholders of Maruti Suzuki India to let Suzuki invest and own the upcoming plant in Gujarat ended on Wednesday.
Maruti Suzuki sought investors’ approval to the related party transaction with Suzuki Motor Gujarat Pvt Ltd, for contract manufacturing agreement and a lease pact for developing the Gujarat plant on land owned by Maruti. The voting on the resolution began on 16th November and ended on 15th December.
The results will be announced on December 17.
Five top domestic mutual funds have reportedly opposed giving permission to Suzuki to build a car plant in Gujarat. The five funds — SBI, ICICI Prudential, HDFC, Reliance Asset Management and Birla Sun Life were said to be lobbying with other funds to vote against the proposal.
Domestic mutual funds and LIC together hold 14.43% in Maruti Suzuki.
Maruti Suzuki recently dismissed proxy advisory firm Institutional Investor Advisory Services’ (IiAS) recommendation asking the carmaker’s shareholders to vote against the proposal.
The scrip opened at Rs. 4650 and has touched a high and low of Rs. 4654 and Rs. 4607 respectively. So far 183926(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 139579.08 crore.
Maruti Suzuki sought investors’ approval to the related party transaction with Suzuki Motor Gujarat Pvt Ltd, for contract manufacturing agreement and a lease pact for developing the Gujarat plant on land owned by Maruti. The voting on the resolution began on 16th November and ended on 15th December.
The results will be announced on December 17.
Five top domestic mutual funds have reportedly opposed giving permission to Suzuki to build a car plant in Gujarat. The five funds — SBI, ICICI Prudential, HDFC, Reliance Asset Management and Birla Sun Life were said to be lobbying with other funds to vote against the proposal.
Domestic mutual funds and LIC together hold 14.43% in Maruti Suzuki.
Maruti Suzuki recently dismissed proxy advisory firm Institutional Investor Advisory Services’ (IiAS) recommendation asking the carmaker’s shareholders to vote against the proposal.
The scrip opened at Rs. 4650 and has touched a high and low of Rs. 4654 and Rs. 4607 respectively. So far 183926(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 139579.08 crore.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 4789 on 23-Nov-2015 and a 52 week low of Rs. 3250 on 17-Dec-2014. Last one week high and low of the scrip stood at Rs. 4636 and Rs. 4408 respectively.
The promoters holding in the company stood at 56.21 % while Institutions and Non-Institutions held 36.52 % and 7.28 % respectively.
The stock is currently trading below its 50 DMA.
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